Seoul shares up 1.43 pct in late morning

SEOUL, Feb. 25 (Yonhap) -- South Korean stocks traded 1.43 percent higher late
Wednesday morning as investors scooped up financial and auto shares, bolstered by
overnight rallies in U.S. markets, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.2 points to
1,079.08 as of 11:20 a.m.
Most blue chips gained marked ground, with banks and carmakers leading the
advance. Telecoms added to the upswing after reports that No. 1 fixed-line
telephony company KT will spend 500 billion won (US$331.7 million) in buying back
shares.
On Tuesday, U.S. shares surged on financial gains, with the Dow Jones industrial
average jumping 3.32 percent and the tech-heavy Nasdaq composite surging 3.9
percent.
The won was trading at 1,505.7 won to the U.S. dollar as of 11:20 a.m., up 10.6
won from Tuesday's close.
kokobj@yna.co.kr
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